Summary

Summary and background - Execution of investment arbitral award - ECT convention -The notion that Union law precludes intra-EU investment arbitration flows directly from fundamental principles of the EU legal order and was established long before the Respondents initiated their arbitration against Spain was initiated. The interpretation reached by the CJEU is a permissible interpretation of Article 26 ECT on application of the VCLT and hence, there is no conflict of norms.

• OGEL: The Kingdom of Spain v Infrastructure Services Luxembourg S.À.R.L. and another; Republic of Zimbabwe v Border Timbers Ltd and another - 2026 UKSC 9 - Judgment - 4 March 2026
• TDM: The Kingdom of Spain v Infrastructure Services Luxembourg S.À.R.L. and another; Republic of Zimbabwe v Border Timbers Ltd and another - 2026 UKSC 9 - Judgment - 4 March 2026